Mango Phone gets in trouble, Directors arrested on launch day for Fraud
Mango Phone Directors Anto Augustine (32) and Josekutty Augustine (24) from Kalpetta in Wayanad district got arrested at the barnd launch event for Fraud.
The news is that both the brothers, also promoters of the company, scammed Bank of Baroda, Kalamassery branch, buy giving false land documents to avail load. They have been on run for almost a year.
These set of events have come as a surprise to their third brother Rojy Augustin. He has revealed that they had no knowledge or information regarding the matter with Bank of Baroda. Arrest on the big launch day did seem suspicious to him.
According to the police, the duo brothers were engaged in similar frauds with other banks including State Bank of India. Case has already been registered by BOB authorities and detailed inquiry is already underway.
The Augustine Duo’s duped Rs. 2.68 Crores from leading banks by giving false documents for a property that was already claimed for Rs. 11.57 Crores.
We will update more details on the matter as soon as we get our hands on them.